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Non FHA Assumable loan success
Hi everyone, this is my first post, so if I'm asking this question in the wrong area, my early apologies. I'm looking to purchase my first property, and I've been searching for properties with FHA Assumable loans. I do have a good amount of cash to make up the difference between the mortgage and the asking price, but I have a two-part question
1. Has anyone had any luck with assuming FHA residential home loans?
2. Has anyone been able to take out a second mortgage at closing to cover the difference?
I want to keep as much cash in reserve.